Pine Cay sits on the edge of the Caicos Barrier Reef, the third-largest barrier reef system in the world. Visibility in these waters regularly exceeds 30 metres, and the reef is in excellent health, supporting elkhorn coral, brain coral, sea fans, and a dense fish population.
Snorkelling trips are arranged daily from the Meridian Club. More serious divers can arrange guided dives with local operators on the reef wall, where the water drops sharply to several hundred metres. Sea turtles are a common sight, and eagle rays occasionally cruise the reef flat at the island's edges.